Safe Strategies for Financial Freedom
Death and taxes are universal, but financial freedom is truly the American way. We all want to figure out safe strategies for financial freedom. There are many means to the end. Here are some strategies to consider if you want to achieve financial freedom in your life:
- Buy used cars, purchasing a new car will cost you thousands and thousands of dollars
- Home purchase fees can be very costly: Try to negotiate the lowest fees possible and get the lowest APR you can
- If you can, do car and home maintanance yourself. Many of us cannot so get trustworthy mechanic and contractors
- Retirement Savings: Max out your 401k to the company match, after that max your Roth IRA, then max your IRA
- Save as a much of your salary that you can, and have at least 6 months of expenses saved for an emergency
- Term Life Insurance: Minimum of $250,000 policy, if not more
- Avoid credit card debt: Congress has passed laws friendly to credit card companies, so it is only going to be more difficult to pay those credit cards off
- Avoid leasing a vehicle: It rarely pays off to lease instead of buying
These are not the only ones to live by, but these safe strategies for financial freedom, if followed, can give you exactly that.
Written by Nagel on April 26th, 2007 with no comments.
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